3 ms·
> There's an elaborate economic rationale for second-price auctions, including that they avoid "winner's remorse." Leave it to the late-stage "improvers" to say
by moneywoes 3y ago
> There's an elaborate economic rationale for second-price auctions, including that they avoid "winner's remorse." Leave it to the late-stage "improvers" to say, "hey, we can capture some of that gap between first and second place!"
Are there any more examples or reading around this concept?
- gorkish 3y agoVickery won a Nobel prize for it, so yes.
- richdougherty 3y agohttps://en.m.wikipedia.org/wiki/Generalized_second-price_auction https://en.m.wikipedia.org/wiki/Generalized_second-price_auc...